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Aldermore completes £325m RMBS (Residential Mortgage Backed Securities) deal

POSTED: 25th September 2018
IN: Newsroom
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Aldermore has today announced the completion of a RMBS transaction which will raise £325m of new funding for the Bank.

Oak No.2 PLC (“Oak 2”) is the first RMBS transaction sponsored by Aldermore since its inaugural Oak deal in 2014, which raised £333m, and is backed by a portfolio of prime UK owner-occupied residential mortgages originated by Aldermore.

The deal highlights the flexibility of Aldermore’s funding model and will support the Bank in its continued development and delivery of products which meet the needs of both its retail customers and small to medium sized enterprises (SMEs).

Aldermore recently announced an increase in net lending to customers, reaching a total of £9bn for the 18 months to 30 June 2018.

Stephen Grainger, Group Treasurer at Aldermore, comments: “This is a fantastic achievement for the Bank in showing its continued diversification and access to wholesale markets despite a four-year absence from the securitisation market. The proceeds will support our loan book growth to SMEs, homeowners, landlords and individuals as we continue to provide them with “banking as it should be””.

**Ends**

For further information, journalists can contact:

Alan Oliver, Head of External Communications
Telephone: 0203 953 7510
Email: alan.oliver@aldermore.co.uk

 

For further information about Aldermore, please review our Notes to Editors page.

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